Zacks Brokerage Buy List: First Data Corp., General Electric, Nokia and Wells Fargo
June 30, 2004 07:05:00 AM ET
Today Zacks.com releases the names of 4 more stocks that are on their coveted Brokerage Buy List portfolio. This portfolio includes just those stocks that currently appear on the core recommended lists of at least three of the top 15 brokerage firms. These stocks are considered the best large cap stocks to own for the long term according to Wall Street's top players. In 2003 this portfolio gained +28.5% outpacing the S&P 500. Here are 4 stocks that are currently members of this prestigious list: First Data Corp. FDC, General Electric Corp. GE, Nokia NOK and Wells Fargo & Company WFC. View the entire list of stocks on the Brokerage Buy List at http://at.zacks.com/?id=139
Nokia NOK is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. Investors are looking for Nokia to improve on its first quarter performance. The good news for the first quarter was that overall mobile device industry volume continued to grow at a very healthy pace of 29%, according to its preliminary estimate. However, Nokia's own first-quarter mobile device volume growth of 19%, slower than the market, reflected that Nokia was not able to fully exploit the usual seasonal market pick up in March. This doesn't seem to deter four of the top brokerage firms which are recommending Nokia as a Core Holding. Long-term device market share targets remain unchanged at 40%. The company's ability to release innovative products continue to be a strength. The company's solid profitability should help alleviate any concerns investors have regarding the slower sales in the first quarter and instead look at better things longer-term.
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